Brave brokers enter the Dragons' Den

“Agents are (concerned) about cutting rates and commissions,” says Cochran. “We have chosen to instead add more value, to show we are making an impact on a family’s life through their children – teaching them about how to better handle their money. When you do that, the proof is in the results – you have earned that respect.”

In taking their EnRICHed Academy to the venture capitalists of the Dragon’s Den last April, the two hoped to earn $40,000 in backing to grow retail horizons for the DVD educational package. Cochran and Seabrook have signed confidentiality agreements preventing them from even hinting about the outcome of their appearance, airing Sunday.

EnRICHed Academy is a program designed to teach teens and young adults how to earn, save and invest their money through an entertaining DVD format.

The DVD package has been presented over the last several years, through hundreds of live speaking events at schools all across North America.

“When we looked at the credit crisis, we thought it was the right timing for this product,” says Cochran. “When we launched it a year ago, we sold over 1,300 boxes in a week.”

To date more than 6,000 packages have been sold.

The EnRICHED Academy DVD package (including instructional materials) costs about $150, with both Gary Mauris and Chris Kayat partners in the project.

“Having Dominion Lending Centres associated with us, and our track record in sales, showed the Dragons we are not fly-by-night salesmen,” Cochran says. “And with the DLC brand, we know how to manage our celebrity.”

The premise of Dragons’ Den has aspiring entrepreneurs pitch their business concepts and products to a panel of Canadian business moguls who have the cash and the know-how make it happen. If the panel believes the product or concept has investment potential, they win.

But there are hurdles to cross before making a pitch. The show’s producers hold some 4,000 auditions across Canada for the limited number of available spots on the show.

“We auditioned in Collingwood, then got together afterwards and decided to fly out to Vancouver to audition again,” said Cochran. “Kevin O’Leary looked at us and said, ‘What are you doing back?’ We told him we just wanted to spend another five minutes with them, to show how serious we were.”

Statistics show that six out of 10 North Americans live paycheque to paycheque, with total credit card charges having gone from $69 billion to over $1.7 trillion; an almost 2,600 per cent increase since 1989.

The need for better personal fiscal education is also revealed in the annual savings rates, which went from over 12 per cent of income in the early 1990s to today’s less than 2 per cent, with a doubling of household debt in less than half that time.

I just want to thank CMP for running this article...this program has made a MAJOR positive impact in so many market places across the country and we are very proud to bring this to the public. As most of DLC's competitors have resorted to discounting there models...DLC has chosen do continually increase our value proposition. To clarify, we did go into the den asking for $40,000 as we had to follow the rules of the game, saying that, we really went in looking for an endorsement deal with zero investment from the Dragons...watch on Sunday to find out what happened.

broker on
13/02/2013 9:41:34 AM

Do they really need the $40,000 or is this a creative way to get on TV on a national program to spin DLC?

BC Brokeron
14/02/2013 5:53:04 AM

Nothing like taking a cheap shot at your competitors while trying to boost your own ego. Are u not part of DLC managenment...

Paul Therien - CENTUMon
14/02/2013 6:08:04 AM

Financial Literacy is something that all Canadians need and I applaud this effort. My only question is this... there are literally hundreds of literacy programs for youth and adults that are free of charge to the Canadian consumer, so why would someone pay for the box set when they can get it for free?

Ron Butleron
14/02/2013 8:16:24 AM

Since I am always in favor of broker advertising I started out liking this alot until Kevin came up with the shot about other networks discounting their models.

Totally pointless comment. Networks do what they need to do, price what they price, that's it. No need to say anything.

Paul Therien - CENTUMon
15/02/2013 5:38:59 AM

Kevin, in regards to your comment about discounting - for the record - most of DLC's competitors have not resorted to discounting the models they offer. That would imply offering fewer services, which is not the case. All of the product launches we have done were at no cost to our network, so that they can provide better service to the consumer and at the same time generate additional income. We have increased the services and the revenue streams for our network and reduced the amount that they pay to be a part of our network. In the world of business there are only two way to increase profitability: (1) Reduce expenses and increase efficiencies (2) Increase Sales – We have done both for our franchises.

I can think of other networks that have done the same, or have made a good effort at doing this.

Gwen Angell-Mightonon
18/02/2013 10:42:33 AM

I wish you both great success! I believe it is an excellent product and a perfect opportunity to educate our clients family. Good for you guys and best of luck!

BC Brokeron
19/02/2013 5:21:10 AM

After watching last night I thought I would come back and see if any new thoughts.....I love how the comment about competitors are cutting back on services is now mysteriously taken out of the article with mention from management!!

Deanon
20/02/2013 12:10:46 PM

The middle are not saving 12% of their incomes because wages have not come even close to matching the real inflation since the early 1990's. Has little to do with financial education. Although the telecom and digital age takes too much of most families disposable incomes. Good luck with your product.